{"id":232150,"date":"2025-10-09T12:00:00","date_gmt":"2025-10-09T16:00:00","guid":{"rendered":"https:\/\/ibkrcampus.com\/campus\/?p=232150"},"modified":"2025-10-10T05:53:09","modified_gmt":"2025-10-10T09:53:09","slug":"notes-from-a-panel","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/notes-from-a-panel\/","title":{"rendered":"Notes From a Panel"},"content":{"rendered":"\n

Yesterday I was privileged to participate in a panel discussion at the Greenwich Economic Forum.  Conferences like these give me an opportunity not only for a change of scenery — in this case, not much, since it was held just down the street from our office — but also to interact with a wide variety of intelligent people with diverse opinions about markets, the economy, and politics.  I was by no means the most prominent speaker \u2013 Ray Dalio and Nassim Taleb come to mind \u2013 but I\u2019d like to think that our panel about trends in markets and the economy more than held its own. <\/p>\n\n\n\n

The first question that came my way was in reference to the market paradigms that we\u2019ve shared in recent days.  I offered three of the four that featured in our recent \u201cChoose Your Allusion<\/a>\u201d piece\u201d: the \u201cSpiderman Market\u201d, the \u201cRatchet Market\u201d, and the “Tokyo Subway Market.\u201d  (Quite frankly, I couldn\u2019t recall the \u201cNihilist Market.\u201d  It\u2019s easy to forget things when speaking extemporaneously before an audience.) <\/p>\n\n\n\n

I know that the panel\u2019s host favored the image of Spiderman scampering up a sheer wall of worry, and the analogy of shoving a few more riders onto a packed Tokyo subway got a few chuckles from the audience of institutional investors, but I think the one that resonated most with my fellow panelists was the ratchet reference.  They were all too familiar with the stock market\u2019s current pattern of sharp advances occasionally punctuated by shallow, fleeting resets.  I enhanced that part of the discussion by referencing my belief that the \u201chalf-life\u201d of dips<\/a> is getting ever-shorter, something which appeared to get plenty of knowing nods.<\/p>\n\n\n\n

The discussion pivoted to the risks about the concentration of AI-related stocks in both key indices and the market\u2019s mentality.  The veteran institutional investors in the room were generally wary of these concerns but understood the career risk that comes from underweighting the stocks and sectors that are driving the performance of the broad market and that of their peers and competitors.  At this point I took a risk, using a joke that my son told me.  I\u2019ll offer a similar G-rated version to the one I used at the conference:<\/p>\n\n\n\n

Two accountants are having lunch together.  One of them is given something that is clearly spoiled and rancid.  Before he has a chance to return it, the second one says, \u201cI\u2019ll give you $100 if you take a bite.\u201d  The first one mulls it over, then takes a nibble, at which point the second one hands over a $100 bill.  The first one then says, \u201cI\u2019ll tell you what.  I\u2019ll give you a chance to get the money back if you take a bite.\u201d Out $100, the second one reluctantly agrees, and gets his money back.<\/em><\/p>\n\n\n\n

This turn of events at lunch makes them late for a meeting.  Their boss asks for an explanation, and they tell him the story of the $100 dare.  He then says, \u201cwait a minute.  You each took a bite of rancid food and ended up with no financial gain?\u201d  One of the accountants thinks for a second and replies, \u201cBut we raised revenues by $200!\u201d<\/em><\/p>\n\n\n\n

Neither my son nor I wrote this joke.  There are versions out there using economists and GDP, and most versions involve a substance and verbiage that I prefer not to use publicly. <\/p>\n\n\n\n

But you should get the point here.  It is quite possible for the sort of deals that were recently struck between OpenAI and Nvidia (NVDA) and AMD might not offer the sort of bottom-line benefits that the headlines imply.  This seemed to be a concern not only for our panelists, but for others as well.  There is a sense of unease among many institutional investors about the market\u2019s relentless rise and the types of deals that have propelled it \u2013 not to mention the signals sent by a $4000+ gold price.  Yet Spiderman continues to move effortlessly up that wall of worry. <\/p>\n","protected":false},"excerpt":{"rendered":"

Yesterday I was privileged to participate in a panel discussion at the Greenwich Economic Forum. Conferences like these give me an opportunity not only for a change of scenery — in this case, not much, since it was held just down the street from our office — but also to interact with a wide variety of intelligent people with diverse opinions about markets, the economy, and politics. I was by no means the most prominent speaker \u2013 Ray Dalio and Nassim Taleb come to mind \u2013 but I\u2019d like to think that our panel about trends in markets and the economy more than held its own. <\/p>\n","protected":false},"author":4,"featured_media":232153,"comment_status":"open","ping_status":"closed","sticky":true,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[14700,18,6,8,9,22,26,3],"tags":[],"contributors-categories":[13576],"class_list":{"0":"post-232150","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-ibkr-market-insights","8":"category-macro","9":"category-north-america","10":"category-region","11":"category-securities","12":"category-stocks","13":"category-text-articles","14":"category-traders-insight","15":"contributors-categories-interactive-brokers"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"\nNotes From a Panel | Traders' Insight<\/title>\n<meta name=\"description\" content=\"Yesterday I was privileged to participate in a panel discussion at the Greenwich Economic Forum. Conferences like these give me an opportunity not only...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/232150\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Notes From a Panel | IBKR Campus US\" \/>\n<meta property=\"og:description\" content=\"Yesterday I was privileged to participate in a panel discussion at the Greenwich Economic Forum. Conferences like these give me an opportunity not only for a change of scenery -- in this case, not much, since it was held just down the street from our office -- but also to interact with a wide variety of intelligent people with diverse opinions about markets, the economy, and politics. I was by no means the most prominent speaker \u2013 Ray Dalio and Nassim Taleb come to mind \u2013 but I\u2019d like to think that our panel about trends in markets and the economy more than held its own.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/notes-from-a-panel\/\" \/>\n<meta property=\"og:site_name\" content=\"IBKR Campus US\" \/>\n<meta property=\"article:published_time\" content=\"2025-10-09T16:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-10-10T09:53:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/10\/conference-notes-panel-featured-img.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"563\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Steve Sosnick\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Steve Sosnick\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\n\t \"@context\": \"https:\\\/\\\/schema.org\",\n\t \"@graph\": [\n\t {\n\t \"@type\": \"NewsArticle\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/notes-from-a-panel\\\/#article\",\n\t \"isPartOf\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/notes-from-a-panel\\\/\"\n\t },\n\t \"author\": {\n\t \"name\": \"Steve Sosnick\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/person\\\/31988d9596575a63ddc53e92049a2549\"\n\t },\n\t \"headline\": \"Notes From a Panel\",\n\t \"datePublished\": \"2025-10-09T16:00:00+00:00\",\n\t \"dateModified\": \"2025-10-10T09:53:09+00:00\",\n\t \"mainEntityOfPage\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/notes-from-a-panel\\\/\"\n\t },\n\t \"wordCount\": 698,\n\t \"commentCount\": 6,\n\t \"publisher\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\"\n\t },\n\t \"image\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/notes-from-a-panel\\\/#primaryimage\"\n\t },\n\t \"thumbnailUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2025\\\/10\\\/conference-notes-panel-featured-img.jpg\",\n\t \"articleSection\": [\n\t \"IBKR Insights\",\n\t \"Macro\",\n\t \"North America\",\n\t \"Region\",\n\t \"Securities\",\n\t \"Stocks\",\n\t \"Text Articles\",\n\t \"Traders' Insight\"\n\t ],\n\t \"inLanguage\": \"en-US\",\n\t \"potentialAction\": [\n\t {\n\t \"@type\": \"CommentAction\",\n\t \"name\": \"Comment\",\n\t \"target\": [\n\t \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/notes-from-a-panel\\\/#respond\"\n\t ]\n\t }\n\t ]\n\t },\n\t {\n\t \"@type\": \"WebPage\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/notes-from-a-panel\\\/\",\n\t \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/notes-from-a-panel\\\/\",\n\t \"name\": \"Notes From a Panel | IBKR Campus US\",\n\t \"isPartOf\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#website\"\n\t },\n\t \"primaryImageOfPage\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/notes-from-a-panel\\\/#primaryimage\"\n\t },\n\t \"image\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/notes-from-a-panel\\\/#primaryimage\"\n\t },\n\t \"thumbnailUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2025\\\/10\\\/conference-notes-panel-featured-img.jpg\",\n\t \"datePublished\": \"2025-10-09T16:00:00+00:00\",\n\t \"dateModified\": \"2025-10-10T09:53:09+00:00\",\n\t \"description\": \"Yesterday I was privileged to participate in a panel discussion at the Greenwich Economic Forum. Conferences like these give me an opportunity not only for a change of scenery -- in this case, not much, since it was held just down the street from our office -- but also to interact with a wide variety of intelligent people with diverse opinions about markets, the economy, and politics. I was by no means the most prominent speaker \u2013 Ray Dalio and Nassim Taleb come to mind \u2013 but I\u2019d like to think that our panel about trends in markets and the economy more than held its own.\",\n\t \"inLanguage\": \"en-US\",\n\t \"potentialAction\": [\n\t {\n\t \"@type\": \"ReadAction\",\n\t \"target\": [\n\t \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/notes-from-a-panel\\\/\"\n\t ]\n\t }\n\t ]\n\t },\n\t {\n\t \"@type\": \"ImageObject\",\n\t \"inLanguage\": \"en-US\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/notes-from-a-panel\\\/#primaryimage\",\n\t \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2025\\\/10\\\/conference-notes-panel-featured-img.jpg\",\n\t \"contentUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2025\\\/10\\\/conference-notes-panel-featured-img.jpg\",\n\t \"width\": 1000,\n\t \"height\": 563\n\t },\n\t {\n\t \"@type\": \"WebSite\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#website\",\n\t \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/\",\n\t \"name\": \"IBKR Campus US\",\n\t \"description\": \"Financial Education from Interactive Brokers\",\n\t \"publisher\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\"\n\t },\n\t \"potentialAction\": [\n\t {\n\t \"@type\": \"SearchAction\",\n\t \"target\": {\n\t \"@type\": \"EntryPoint\",\n\t \"urlTemplate\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/?s={search_term_string}\"\n\t },\n\t \"query-input\": {\n\t \"@type\": \"PropertyValueSpecification\",\n\t \"valueRequired\": true,\n\t \"valueName\": \"search_term_string\"\n\t }\n\t }\n\t ],\n\t \"inLanguage\": \"en-US\"\n\t },\n\t {\n\t \"@type\": \"Organization\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\",\n\t \"name\": \"Interactive Brokers\",\n\t \"alternateName\": \"IBKR\",\n\t \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/\",\n\t \"logo\": {\n\t \"@type\": \"ImageObject\",\n\t \"inLanguage\": \"en-US\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/logo\\\/image\\\/\",\n\t \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/05\\\/ibkr-campus-logo.jpg\",\n\t \"contentUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/05\\\/ibkr-campus-logo.jpg\",\n\t \"width\": 669,\n\t \"height\": 669,\n\t \"caption\": \"Interactive Brokers\"\n\t },\n\t \"image\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/logo\\\/image\\\/\"\n\t },\n\t \"publishingPrinciples\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/about-ibkr-campus\\\/\",\n\t \"ethicsPolicy\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/cyber-security-notice\\\/\"\n\t },\n\t {\n\t \"@type\": \"Person\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/person\\\/31988d9596575a63ddc53e92049a2549\",\n\t \"name\": \"Steve Sosnick\",\n\t \"description\": \"Steve is the Chief Strategist at Interactive Brokers. He has held numerous roles in the organization since joining Timber Hill, IBKR\u2019s predecessor, in 1995 as Equity Risk Manager and an options market maker. He developed and implemented automated trading strategies for stocks and options before moving into his current role. Steve has guest authored several columns in Barron\u2019s and made numerous live on Bloomberg TV and Radio, CNBC, Yahoo Finance, Fox Business, and several other media outlets in North America, Asia, Australia, and the Middle East in addition to being quoted frequently in print and electronic media. Prior to joining Interactive Brokers, Sosnick held senior trading roles at Morgan Stanley, Lehman Brothers, and Salomon Brothers, where he completed the firm\u2019s famed training program.\",\n\t \"sameAs\": [\n\t \"https:\\\/\\\/ibkr.com\"\n\t ],\n\t \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/author\\\/steve-sosnick\\\/\"\n\t }\n\t ]\n\t}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Notes From a Panel | Traders' Insight","description":"Yesterday I was privileged to participate in a panel discussion at the Greenwich Economic Forum. Conferences like these give me an opportunity not only...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/232150\/","og_locale":"en_US","og_type":"article","og_title":"Notes From a Panel | IBKR Campus US","og_description":"Yesterday I was privileged to participate in a panel discussion at the Greenwich Economic Forum. Conferences like these give me an opportunity not only for a change of scenery -- in this case, not much, since it was held just down the street from our office -- but also to interact with a wide variety of intelligent people with diverse opinions about markets, the economy, and politics. I was by no means the most prominent speaker \u2013 Ray Dalio and Nassim Taleb come to mind \u2013 but I\u2019d like to think that our panel about trends in markets and the economy more than held its own.","og_url":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/notes-from-a-panel\/","og_site_name":"IBKR Campus US","article_published_time":"2025-10-09T16:00:00+00:00","article_modified_time":"2025-10-10T09:53:09+00:00","og_image":[{"width":1000,"height":563,"url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/10\/conference-notes-panel-featured-img.jpg","type":"image\/jpeg"}],"author":"Steve Sosnick","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Steve Sosnick","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/securities\/macro\/notes-from-a-panel\/#article","isPartOf":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/securities\/macro\/notes-from-a-panel\/"},"author":{"name":"Steve Sosnick","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/person\/31988d9596575a63ddc53e92049a2549"},"headline":"Notes From a Panel","datePublished":"2025-10-09T16:00:00+00:00","dateModified":"2025-10-10T09:53:09+00:00","mainEntityOfPage":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/securities\/macro\/notes-from-a-panel\/"},"wordCount":698,"commentCount":6,"publisher":{"@id":"https:\/\/ibkrcampus.com\/campus\/#organization"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/securities\/macro\/notes-from-a-panel\/#primaryimage"},"thumbnailUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/10\/conference-notes-panel-featured-img.jpg","articleSection":["IBKR Insights","Macro","North America","Region","Securities","Stocks","Text Articles","Traders' Insight"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ibkrcampus.com\/campus\/traders-insight\/securities\/macro\/notes-from-a-panel\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/securities\/macro\/notes-from-a-panel\/","url":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/securities\/macro\/notes-from-a-panel\/","name":"Notes From a Panel | IBKR Campus US","isPartOf":{"@id":"https:\/\/ibkrcampus.com\/campus\/#website"},"primaryImageOfPage":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/securities\/macro\/notes-from-a-panel\/#primaryimage"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/securities\/macro\/notes-from-a-panel\/#primaryimage"},"thumbnailUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/10\/conference-notes-panel-featured-img.jpg","datePublished":"2025-10-09T16:00:00+00:00","dateModified":"2025-10-10T09:53:09+00:00","description":"Yesterday I was privileged to participate in a panel discussion at the Greenwich Economic Forum. Conferences like these give me an opportunity not only for a change of scenery -- in this case, not much, since it was held just down the street from our office -- but also to interact with a wide variety of intelligent people with diverse opinions about markets, the economy, and politics. I was by no means the most prominent speaker \u2013 Ray Dalio and Nassim Taleb come to mind \u2013 but I\u2019d like to think that our panel about trends in markets and the economy more than held its own.","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ibkrcampus.com\/campus\/traders-insight\/securities\/macro\/notes-from-a-panel\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/securities\/macro\/notes-from-a-panel\/#primaryimage","url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/10\/conference-notes-panel-featured-img.jpg","contentUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/10\/conference-notes-panel-featured-img.jpg","width":1000,"height":563},{"@type":"WebSite","@id":"https:\/\/ibkrcampus.com\/campus\/#website","url":"https:\/\/ibkrcampus.com\/campus\/","name":"IBKR Campus US","description":"Financial Education from Interactive Brokers","publisher":{"@id":"https:\/\/ibkrcampus.com\/campus\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ibkrcampus.com\/campus\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ibkrcampus.com\/campus\/#organization","name":"Interactive Brokers","alternateName":"IBKR","url":"https:\/\/ibkrcampus.com\/campus\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/logo\/image\/","url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/ibkr-campus-logo.jpg","contentUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/ibkr-campus-logo.jpg","width":669,"height":669,"caption":"Interactive Brokers"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/logo\/image\/"},"publishingPrinciples":"https:\/\/www.interactivebrokers.com\/campus\/about-ibkr-campus\/","ethicsPolicy":"https:\/\/www.interactivebrokers.com\/campus\/cyber-security-notice\/"},{"@type":"Person","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/person\/31988d9596575a63ddc53e92049a2549","name":"Steve Sosnick","description":"Steve is the Chief Strategist at Interactive Brokers. He has held numerous roles in the organization since joining Timber Hill, IBKR\u2019s predecessor, in 1995 as Equity Risk Manager and an options market maker. He developed and implemented automated trading strategies for stocks and options before moving into his current role. Steve has guest authored several columns in Barron\u2019s and made numerous live on Bloomberg TV and Radio, CNBC, Yahoo Finance, Fox Business, and several other media outlets in North America, Asia, Australia, and the Middle East in addition to being quoted frequently in print and electronic media. Prior to joining Interactive Brokers, Sosnick held senior trading roles at Morgan Stanley, Lehman Brothers, and Salomon Brothers, where he completed the firm\u2019s famed training program.","sameAs":["https:\/\/ibkr.com"],"url":"https:\/\/www.interactivebrokers.com\/campus\/author\/steve-sosnick\/"}]}},"jetpack_featured_media_url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/10\/conference-notes-panel-featured-img.jpg","_links":{"self":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts\/232150","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/comments?post=232150"}],"version-history":[{"count":0,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts\/232150\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/media\/232153"}],"wp:attachment":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/media?parent=232150"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/categories?post=232150"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/tags?post=232150"},{"taxonomy":"contributors-categories","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/contributors-categories?post=232150"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}